U.S. Still Likely to Benefit from TPP

The United States stands to benefit from the Trans-Pacific Partnership, even though President Donald Trump withdrew the U.S. from the trade agreement. New Zealand Trade Minister Todd McClay told Radio New Zealand the U.S. and other non-TPP countries will benefit from the changes to the sharing of pharmaceutical information. However, no added benefits extend to agriculture, which TPP was thought to increase U.S. agricultural export sales by $4 billion. McClay was meeting with his counterpart in Japan this week to discuss whether the current text of the TPP should remain in place, or if changes to the agreement should be made. In a news release, Japan and New Zealand officials said the nations “remain committed to maintaining the unity among the TPP nations” and “early entry into force” of the agreement.

The two countries also confirmed a continued cooperation in concluding the Regional Comprehensive Economic Partnership, an Asia-Pacific trade deal under negotiation that excludes the United States but includes China.Source: NAFB News Service